As a business owner, you’re constantly working hard, but are you truly making progress? Many entrepreneurs grind day in and day out yet struggle to see real profit. The truth is, success isn’t just about working harder—it’s about mastering the right skills that will drive your business forward.
In this post, we’ll explore the three critical skills that, when combined with the Profit First system, will make you unstoppable in business. These skills don’t just apply to finances—they influence every aspect of your life, from breaking bad habits to achieving long-term success.
1. RecogniSe and Acknowledge What’s Holding You Back
The first skill is the ability to identify the real obstacles preventing your success. Many business owners operate on autopilot, repeating the same mistakes without realizing what’s holding them back. Taking a step back, reflecting on what isn’t working, and getting external guidance (like from a coach or mentor) can be a game-changer.
For me personally, I spent years in business with fears and self-doubt acting as my foot brake. It wasn’t until I acknowledged these fears and sought expert guidance that I started seeing breakthroughs.
2. Identify Patterns and Habits That Keep You Stuck
Once you’ve recognised the problem, the next step is to spot the habits and behaviours that reinforce it. For example, are you constantly underpricing your services? Do you take on too many low-paying jobs just to stay busy? These repetitive patterns keep you from achieving sustainable profits.
In one of my earlier podcasts, I talked about the overspender mindset—business owners who don’t track their cash flow, leading to unnecessary expenses and financial instability. Recognizing these patterns is essential to breaking free from them.
3. Create a New Winning Pattern
The final step is building a new strategy that aligns with success. You don’t have to reinvent the wheel—model your actions after successful business owners. Find someone who has already achieved what you want and apply their formula.
For example, let’s say you’re a tradie struggling with profitability. You might recognize that:
- You’re undercharging for your work.
- You’re not factoring in enough time for each job.
- You’re competing on price rather than value.
To break this cycle, you need to reset your pricing, communicate your value, and attract better-quality clients who appreciate your expertise.
Why These Skills Matter More Than Ever
Without these three skills, Profit First won’t work—because you’ll continue to make the same financial mistakes. But once you apply them, you’ll:
✅ Gain control over your cash flow
✅ Reduce financial stress
✅ Build a business that truly serves you
Want to Take the Next Step?
I’m hosting a FREE Masterclass on February 13, 2025, where I’ll personally show you how to escape the debt cycle, fix your cash flow problems, and apply Profit First to your business.
💡 Sign up now: www.ngraccounting.com.au/masterclass for your zoom link.
Don’t let another year go by feeling stuck. Learn the skills that will make you unstoppable!